中文：

贴现率是指将未来现金流贴现到现在的利率，它反映了投资者的时间偏好和风险承受能力。贴现率越高，未来的现金流被贴现到现在的价值就越低。

在金融领域，贴现率被广泛应用于评估投资项目的净现值（NPV）。通过将未来的现金流以贴现率贴现到当前，投资者可以评估投资项目在考虑货币时间价值和风险因素后的盈利潜力。

贴现率是一个关键的金融变量，受到多种因素的影响，包括市场利率、通货膨胀率、投资风险和时间期限等。市场利率和通货膨胀率直接影响贴现率，而投资风险和时间期限则会影响投资者对未来现金流的预期和贴现率的选择。

英文：

The discount rate is the interest rate used to discount future cash flows to their present value, reflecting investors' time preferences and risk-bearing abilities. The higher the discount rate, the lower the present value of future cash flows.

In the financial field, the discount rate is widely used to evaluate the net present value (NPV) of investment projects. By discounting future cash flows to the present using the discount rate, investors can assess the profit potential of investment projects after considering monetary time value and risk factors.

The discount rate is a key financial variable, influenced by various factors including market interest rates, inflation rates, investment risks, and time horizons. Market interest rates and inflation rates directly affect the discount rate, while investment risks and time horizons influence investors' expectations of future cash flows and the selection of discount rates.